COSCO SHIPPING Ports Co., Ltd. had acquired 12.5% and 30% of the shares of Thai Laemchabang Terminal Co., Ltd. ("TLT") and Hutchison Laemchabang Terminal Limited ("HLT") in Laem Chabang Port, Thailand, according to the company's release.
The purchase price is approximately US$110 million, including berths A2 at TLT Terminal, berths A3, C1-C2 and D1-D3 at HLT Terminal, with berths D1-D3 still under partial construction and an annual processing capacity of approximately 6.7 million TEU after completion and operation.
TLT and HLT are currently the largest terminal operators in the Laem Chabang port area. Laem Chabang Port is located in the southeast of Bangkok City, Thailand, about 60 nautical miles from Bangkok Port, is the largest deep-water port in Thailand and the most important international container hub port in Thailand, accounting for about 80% of Thailand's national throughput.
COSCO SHIPPING Ports' acquisition of the equity interests of TLT and HLT in Laem Chabang Port in Thailand marks an important strategic layout of the company in the Southeast Asian market. The US$110 million acquisition highlights COSCO SHIPPING's long-term strategic intention to deepen Sino-Thai economic and trade cooperation and the Southeast Asian market.
As Thailand's most important international container hub port, Laem Chabang Port is not only the largest deep-water port in Thailand, but also a key hub for the development of the Eastern Economic Corridor. COSCO SHIPPING Ports' move will help further integrate port resources in Thailand and Southeast Asia, enhance logistics extension capabilities, and expand integrated supply chain services. This transformation from a single port operation to an integrated logistics hub will not only improve the efficiency of regional services, but also provide customers with more comprehensive and efficient logistics solutions.
COSCO SHIPPING Ports Limited is the world's leading port logistics service provider, with a terminal portfolio covering the five major coastal port groups in China, the middle and lower reaches of the Yangtze River, Europe, the Eastern Mediterranean, the Middle East, Southeast Asia, South America and Africa. As of September 30, 2024, COSCO SHIPPING Ports operates and manages 371 berths in 39 ports around the world, of which 224 are container berths, with a total annual handling capacity of approximately 123 million TEUs.